We use cookies to enhance user experience and ensure optimised site functionality. We inform you that the use of Essential Cookies is auto-performed according to our Cookie Policy. You can adjust other cookie settings to your preference by selecting "Cookie Settings".
×Cookies Settings
The essential cookies are absolutely necessary for the proper functioning of the site. They allow you to browse and use its features. They are automatically installed when you visit the website.
Always On •
Statistics cookies help us, as website owners understand how visitors interact with site pages by collecting information in Google Analytics.
Suggested •
These cookies are used to track site users' preferences. Their use relates to the promotion of relevant advertisement.


Announcement - Completion of DESFA sale process

HELLENIC PETROLEUM announces the successful completion of the sale of 66% of DESFA’s share capital (31% for HRADF and 35% for HELPE S.A.) to “SENFLUGA Energy Infrastructure Holdings S.A.”, a JV of Snam S.p.A, Enagás Internacional S.L.U. and Fluxys S.A., as well as the payment of the total consideration of €535 million. The share of proceeds for HELLENIC PETROLEUM amounted to €283.7 million.

The process of selling 66% of DESFA's shares by the two shareholders, HRADF and HELPE, was initiated in June 2017 via an international tender. After two rounds of binding offers, “SENFLUGA Energy Infrastructure Holdings S.A.” was announced on 16 April 2018 as the preferred bidder and following successful pre-contractual review by the Court of Audit, the sale and purchase agreement was signed on 20 July 2018.

Completion followed all necessary approvals by the European and Greek regulatory authorities.

The successful completion of the transaction is a key milestone, as it is fully aligned with the Group's strategy to maximize the value of its non-core business participations, accelerate de-leverage and strengthen its financial position.